BIG Facebook Changes Every Business Owner Should Know About

WAVE Watch is a series that reports on the social media landscape, new features, trends, and how-tos. We're keeping up with everythingfrom changes to the Facebook algorithm, to the evolving world of video marketing, and the Instagram v. Snapchat war—so you don't have to. Social media evolves quickly but we're tracking it all with an enthusiastic flare because we’re eternally optimistic about the internet and we hope that you are too!

If you settled into 2017 with newfound productivity and enthusiasm for getting work done, you're not alone. The team at Facebook have been busy making some pretty significant changes, many of which affect you: businesses owners who use the platform as a marketing avenue.

It's a lot to keep up with, which is why we've broken down the most significant changes so you can be prepared to adjust your Facebook strategy and successfully reach your fans, customers, and new audiences. 

Here are the top five changes you should know about:


SOON: Users Will be Able to Shop Your Facebook Page

Brands will soon be able to upload their products right into their Facebook Shop, making it easier to turn posts into purchases. This is great news for brands and small businesses who don't have the resources to optimize their website and/or mobile platform and anyone else who would like to drive sales from their Facebook posts. Facebook Shop won't be an e-commerce solution for brands since Facebook won't be able to process payments, but customers will be able to message brands directly or follow a link to the website link if they want to complete a purchase. The feature is still being rolled out but Facebook promises some stellar conversions for advertisers who are struggling with driving purchases from their existing ads. Read more...


SOON: Dynamic Ads Will Reach New, Larger Audiences

 Photo:  Josh Yong .

Photo: Josh Yong.

Facebook dynamic ads are pre-generated ads that appear to customers who have viewed a specific product on an advertiser's website. For example, if you're shopping for a red dress and you're looking at a dress on H&M's website, that same red dress may appear on your Facebook feed a day or so later. That's a dynamic ad. Dynamic ads are a great retargeting strategy but haven't typically been successful at reaching new audiences. That is, until now.

Soon, Facebook will allow advertisers to send dynamic ads to customers who have not yet visited a brand's website. Instead of sending dynamic ads just to people who have seen your products, Facebook will allow advertisers to send an ad to anyone who's looking for similar products. For example, if we used the example from before, Facebook would allow any brand to target the user who's searching for a red dress, whether they've visited your site or not. This is great news for advertisers who have refrained from using Facebook dynamic ads in the past due to low traffic on their website, making dynamic ads more of an acquisition tool (used to reach new customers) rather than a retargeting strategy (used to reach existing customers). Reach more...


SOON: Facebook is Testing Mid-Roll Video Ads

In case you live under a rock, video is the king of social currency right now. In fact, Facebook reports that their users watch 100 million hours of video PER DAY. That's a LOT of views.

Facebook is starting to test mid-roll video ads, ads that are inserted into video clips and live broadcasts on Facebook after the viewer has been watching for 20 seconds. Facebook CEO, Mark Zuckerburg, is pretty adamant about not having the ads appear before the video, similar to the way YouTube ads roll out. But critics are already starting to complain about this new placement, calling the mid-roll ads annoying and disruptive. On the bright side, Facebook will split the ad revenue with publishers, giving 55 percent to publishers and keeping 45 percent for themselves. Read more...


NOW: Facebook Fights the Good Fight Against Fake News

Fake news was all the rage last year. So much so that the spike in use prompted Oxford Dictionary to name "post-truth" the 2016 Word of the Year.

Facebook is sick of being an accomplice so they're rolling out a new feature that warns users of an article that might be post-truth-ish. It's so important that Zuckerberg wrote about the issue in an effort to ease the world's worries of Facebook's role in the circulation of fake news. Facebook plans to combat this issue by allowing users to report fake news articles, dispute new stories, and disrupt financial incentives for spammers. Read more...


NOW: Facebook Audience Network Reaches 1 Billion People (!!!)

In 2016, Facebook announced they there were over 1 billion people actively using Facebook, and now they've confirmed that they have over 1 billion people viewing content on their Facebook Audience Network. That means one in five people around the world are actively using Facebook around the world. 

The Facebook Audience Network allows advertisers to reach international views on global publishing networks including Daily Mirror, Univision, and the Washington Post. Although wider audiences don't always lead to better conversion rates, Facebook reports that advertisers who opt-in to the Audience Network reach up to 16 percent more people and see an increase of 12 percent in conversion rates. Read more...


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